BOSTON INCREASES 0.5%; NEW YORK INCREASES 0.4%; BAY AREA INCREASES 0.9%
BOSTON, MA – May 16, 2019 – ON Partners (www.onpartners.com), one of the country’s fastest growing retained executive search firms, has compiled the results of its first quarter 2019 Digital Jobs Index for the country’s three largest tech centers: Boston, New York City and the Bay Area.
Tech hiring noticeably softened in the first quarter in all three major tech hubs. In addition to slowing growth in overall employment, fewer companies increased their headcount.
Q1 hiring in Boston increased by 0.5% while only 56% of the top 100 tech employers added to their payrolls. New York City was roughly the same with an increase of 0.4% and 56% of companies increasing their headcounts. The Bay Area had an increase of 0.9% to tech employment, but a startlingly low 37% of companies showed a headcount increase.
John Barrett, a Partner at ON Partners, stated “These numbers surprised us as we didn’t see any signs in the fourth quarter that hiring would weaken at the beginning of this year. There was slower economic growth in the U.S. in the final months of last year, but we wouldn’t have expected that to impact Q1’s hiring. It seems premature to draw any conclusions from just one quarter’s numbers. We’ll have to review Q2’s numbers to see if there is a slowing trend in tech hiring.”
Full results of the survey are published below:
QUARTERLY EMPLOYMENT CHANGE IN DIGITAL JOBS (%)
COMPANIES WITH INCREASING HEADCOUNT (%)
First Quarter 2019 results from ON Partners’ Digital Jobs Index:
Approximately 320 jobs added for a 0.5% gain
Top 10 companies showing largest headcount gains in Boston include:
Other Boston area companies showing notable gains in headcount:
- American Well
- Quick Base
New York City data:
Approximately 290 jobs added for a 0.4% gain
Top 10 companies showing largest headcount gains in New York City include:
- Flatiron Health
- Rent the Runway
Other New York City area companies showing notable gains in headcount:
- Oscar Health
- Group Nine Media
- Moda Operandi
- Integral Ad Science
- VTS, Inc.
Bay Area data:
Approximately 2,100 jobs added for a 0.9% gain
Top 10 companies showing largest headcount gains in the Bay Area include:
Other Bay Area companies showing notable gains in headcount:
- Snowflake Computing
- Affirm Inc.
- Rubrik Inc.
ON Partners identified the leading 100 software and internet companies in Boston, New York City and the Bay Area. When considering a company’s eligibility to be included in the top 100, ON Partners looks at the number of local employees in each city, employment growth and importance to the local technology community. The Digital Jobs Index represents the quarterly headcount change in LinkedIn among those 100 companies in each metropolitan area within a 50 mile radius. ON Partners’ Digital Jobs Index is current as of March 31, 2019.
About ON Partners
ON Partners recruits game-changing executives for world-changing companies. ON Partners was founded in 2006 by like-minded executive search professionals desiring to establish a more client centric alternative to the large multi-service global firms they were leaving behind. Growing quickly ever since, we have recently been named to the INC 500/5000 List and as one of the Top 25 Retained Executive Search Firms in the U.S. Specializing in recruiting C-suite, Board and Vice President/Senior Management talent,our Partners have a long successful track record of building world class management teams across broad industries. For more information, visit www.onpartners.com.